PayPal Cyber Monday Mobile Payment Volume Up Over 500 Percent

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Black Friday and Thanksgiving Day brought record mobile engagement for PayPal, with 511 percent and a 538 percent increase in global mobile payment volume when compared to Thanksgiving and Black Friday 2010, respectively.

It looks like Cyber Monday is also bringing record sales for the payments giant. The company is reporting that as of 11 a.m. PST, PayPal is already seeing a six-fold increase (514 percent) more mobile payment volume on Cyber Monday 2011 compared to the same time period on Cyber Monday 2010.

Some of that mobile payment volume could come from sales from eBay. The e-commerce giant just revealed that this morning people picked up four iPad 2 tablets per minute, at a discounted price.

Already, we’re seeing reports that Cyber Monday online sales are up 18 percent for this same time period over Cyber Monday 2010. The number of consumers using a mobile device to visit a retailer’s site is 11.7 percent and the number of consumers using their mobile device to make a purchase is 6.4 percent.

General mobile sales and traffic to retailers are also up, and in terms of devices, the iPhone continues to lead all mobile device traffic at 4.66 percent, followed by Android at 3.7 percent and iPad at 3.12 percent.

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CrunchBase

OverviewPayPal provides online payment solutions to its users. It enables its users to transact money through their account balances, bank accounts, credit cards, or promotional financing without sharing financial information.
The company serves individuals who purchase through online stores across the globe and businesses worldwide. It has a strategic relationship with Facebook. PayPal was formerly known …